Adagene Correlations

ADAG Stock

USD 1.84 0.01 0.54%

The correlation of Adagene is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Adagene Correlation With Market

Significant diversification

The correlation between Adagene and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adagene and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Adagene. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more detail on how to invest in Adagene Stock please use our How to Invest in Adagene guide.

Moving together with Adagene Stock

0.61	EQ	Equillium	Pair Corr
0.65	ME	23Andme Holding	Pair Corr
0.76	VALN	Valneva SE ADR	Pair Corr
0.78	DNLI	Denali Therapeutics	Pair Corr
0.8	DNTH	Dianthus Therapeutics	Pair Corr
0.66	DOMH	Dominari Holdings	Pair Corr
0.84	DRRX	Durect	Pair Corr
0.77	DTIL	Precision BioSciences	Pair Corr
0.82	VIGL	Vigil Neuroscience	Pair Corr
0.75	VINC	Vincerx Pharma	Pair Corr
0.88	VKTX	Viking Therapeutics	Pair Corr
0.62	VRCA	Verrica Pharmaceuticals	Pair Corr
0.75	VRDN	Viridian Therapeutics Buyout Trend	Pair Corr
0.83	VRPX	Virpax Pharmaceuticals	Pair Corr
0.71	VRTX	Vertex Pharmaceuticals	Pair Corr

Moving against Adagene Stock

0.74	DRTS	Alpha Tau Medical	Pair Corr
0.68	VCYT	Veracyte Potential Growth	Pair Corr
0.67	VCEL	Vericel Corp Ord	Pair Corr
0.65	DMAC	DiaMedica Therapeutics	Pair Corr
0.61	CDIOW	Cardio Diagnostics	Pair Corr
0.39	SABSW	SAB Biotherapeutics	Pair Corr
0.73	DYAI	Dyadic International	Pair Corr
0.71	VRNA	Verona Pharma PLC	Pair Corr
0.61	SRZNW	Surrozen Warrant	Pair Corr
0.56	KTTAW	Pasithea Therapeutics	Pair Corr
0.51	VSTM	Verastem	Pair Corr
0.41	DVAX	Dynavax Technologies	Pair Corr

Related Correlations Analysis

	AVTE	ACRV	RZLT	ANTX	ANEB	ANAB	MLYS	ELYM	JANX	PMVP
AVTE		-0.28	0.0	0.43	-0.45	-0.64	-0.13	-0.65	0.11	0.06	AVTE
ACRV	-0.28		0.58	-0.48	0.42	0.66	0.78	0.75	0.15	0.76	ACRV
RZLT	0.0	0.58		-0.38	0.56	0.31	0.5	0.43	0.05	0.67	RZLT
ANTX	0.43	-0.48	-0.38		-0.56	-0.48	-0.27	-0.66	0.33	-0.21	ANTX
ANEB	-0.45	0.42	0.56	-0.56		0.57	0.44	0.66	-0.17	0.18	ANEB
ANAB	-0.64	0.66	0.31	-0.48	0.57		0.6	0.85	-0.08	0.4	ANAB
MLYS	-0.13	0.78	0.5	-0.27	0.44	0.6		0.61	0.35	0.68	MLYS
ELYM	-0.65	0.75	0.43	-0.66	0.66	0.85	0.61		-0.06	0.47	ELYM
JANX	0.11	0.15	0.05	0.33	-0.17	-0.08	0.35	-0.06		0.35	JANX
PMVP	0.06	0.76	0.67	-0.21	0.18	0.4	0.68	0.47	0.35		PMVP
	AVTE	ACRV	RZLT	ANTX	ANEB	ANAB	MLYS	ELYM	JANX	PMVP

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ELYM	+ 0.85	ANAB
MLYS	+ 0.78	ACRV
PMVP	+ 0.76	ACRV
ELYM	+ 0.75	ACRV
PMVP	+ 0.68	MLYS
PMVP	+ 0.67	RZLT

High negative correlations

ELYM	- 0.66	ANTX
ELYM	- 0.65	AVTE
ANAB	- 0.64	AVTE
ANEB	- 0.56	ANTX
ANAB	- 0.48	ANTX
ANTX	- 0.48	ACRV

Risk-Adjusted Indicators

There is a big difference between Adagene Stock performing well and Adagene Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Adagene's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AVTE	2.22	0.32	0.14	0.83	1.96	(3.27)	6.17	(3.31)	19.11
ACRV	3.44	(0.26)	0.00	(0.22)	0.00	0.00	8.45	(9.66)	26.67
RZLT	2.77	0.08	0.02	0.23	3.31	(3.04)	6.80	(5.95)	19.56
ANTX	3.06	0.38	0.12	0.61	2.56	(4.79)	8.94	(4.72)	28.89
ANEB	4.46	0.00	0.00	0.03	6.01	(5.11)	7.64	(10.43)	40.03
ANAB	4.24	(0.95)	0.00	(0.67)	0.00	0.00	8.22	(8.03)	44.55
MLYS	3.37	(0.49)	0.00	(1.25)	0.00	0.00	7.79	(6.95)	26.52
ELYM	3.62	(1.07)	0.00	1.04	0.00	0.00	6.00	(9.35)	22.16
JANX	3.54	(0.10)	0.00	(0.08)	0.00	0.00	8.08	(7.56)	61.07
PMVP	1.96	(0.11)	0.00	(0.34)	0.00	0.00	4.35	(4.73)	13.98

Adagene Corporate Management

Alexander Goergen	VP Development	Profile
Jiping MD	Executive Development	Profile
Guizhong Liu	Head Pharmacology	Profile
Xiaohong She	Senior Operations	Profile
Ling Zhou	Executive Resources	Profile
Man MBA	CFO Director	Profile
Qinghai Zhao	Chief Officer	Profile

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